Saturday, September 26, 2020

ICAHN SWEETENS HIS DEAL FOR MGM

October 27, 2010 by · Leave a Comment 

Given widespread reports that MGM’s largest creditors prefer the deal offered by Spyglass Entertainment that would convert their debt into 95 percent ownership of a new company headed by Spyglass chiefs Gary Barber and Roger Birnbaum, maverick investor Carl Icahn is sweetening the deal he has offered them. On Tuesday, he raised his tender offer […]

ICAHN MANEUVERS TO MERGE LIONSGATE, MGM

October 22, 2010 by · Leave a Comment 

As part of an elaborate maneuver to push forward a merger between Lions Gate Entertainment and Metro Goldwyn Mayer, Carl Icahn, who is already Lions Gate’s largest shareholder, has offered to buy $963 million of MGM’s debt for $433 million, or 45 cents on the dollar. Icahn already owns $500 million of the studio’s $4-billion […]

ICAHN NOW WANTS LIONSGATE TO BUY MGM

October 1, 2010 by · Leave a Comment 

Carl Icahn, who only a few months ago slammed the management of Lionsgate for considering a possible acquisition of MGM, apparently now believes that such a buy might not be such a bad idea after all. Both the Wall Street Journal and the Los Angeles Times reported today (Friday) that Icahn has been holding talks […]

BLOCKBUSTER DECLARES BANKRUPTCY

September 23, 2010 by · Leave a Comment 

Unable to lift itself out from beneath a nearly $1-billion debt load, Blockbuster today (Thursday) filed for Chapter 11 bankruptcy protection. It said it plans to convert most of its debt into equity under a reorganization with bondholders that hold about 80 percent of its senior notes. Blockbuster said that they had agreed to provide […]